NEW PARAGUAY PRESIDENT FACES CHALLENGES WITH ILLICIT CIGARETTE TRADE
June 1st, 2013
THE ELECTION of tobacco magnate Horacio Cartes as Paraguay’s President cy was mired by scandalous accusations of corruption, and now experts say he will do little to confront the country’s flourishing contraband cigarette trade. Mr Cartes, 56, is a business tycoon and newcomer to politics who owns more than 20 companies, including Paraguay’s largest cigarette manufacturer Tabacalera del Este (Tabesa). He won 46% of the vote on April 21 and will assume power on August 15. Mr Cartes was jailed facing charges of illegal currency dealings in the 1980s, although ...
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